| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17355 |
| 来源ID | Working Paper 17355 |
| Liquidity management of U.S. global banks: Internal capital markets in the great recession | |
| Nicola Cetorelli; Linda S. Goldberg | |
| 发表日期 | 2011-08-25 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | The recent crisis highlighted the importance of globally active banks in linking markets. One channel for this linkage is through how these banks manage liquidity across their entire banking organization. We document that funds regularly flow between parent banks and their affiliates in diverse foreign markets. We use the Great Recession as an opportunity to identify the balance sheet shocks to parent banks in the United States, and then explore which foreign affiliate features are associated with those businesses being protected, for example their status as important locations in sourcing funding or as destinations for foreign investment activity. We show that distance from the parent organization lays a significant role in this allocation, where distance is bank-affiliate specific and depends on the ex ante relative importance of such locations as local funding pools and in their overall foreign investment strategies. These flows are a form of global interdependence previously unexplored in the literature on international shock transmission. |
| 主题 | International Economics ; International Finance ; Financial Economics ; Financial Markets ; Financial Institutions |
| URL | https://www.nber.org/papers/w17355 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575029 |
| 推荐引用方式 GB/T 7714 | Nicola Cetorelli,Linda S. Goldberg. Liquidity management of U.S. global banks: Internal capital markets in the great recession. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17355.pdf（646KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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